After years of crisis that heavily affected its production and exports, the Cameroon Development Corporation (CDC) has returned to growth. In December 2024, the public agro-industrial company exported more than 4,400 tons of bananas, a level not seen since 2017. This performance is accompanied by a financial recovery plan by the State, intended to clean up its finances and relaunch its investments.
The Cameroon Development Corporation (CDC) is gradually regaining its colours after a period of turbulence. According to the Banana Association of Cameroon (Assobacam), the company exported 31,643 tonnes of bananas in 2024, with a record of 4,418 tonnes in December. This is the best monthly level in seven years, marking a turning point in the revival of this public company.
Since 2018, the CDC, Cameroon’s second largest employer after the central administration, has been going through an unprecedented crisis. The escalation of the conflict in the English-speaking South-West and North-West regions, where it operates banana, rubber and oil palm plantations, had paralyzed its activities. Between September 2018 and June 2020, its banana exports were completely interrupted due to attacks by separatist groups who destroyed infrastructure, transformed some plantations into training camps and targeted its employees.
Despite colossal losses – 6,124 jobs lost and a cumulative deficit of 38.7 billion FCFA between 2019 and 2021 – the CDC restarted its activities in 2020 thanks to financial support from the State. However, its performance remained below pre-crisis levels, until the historic leap recorded in December 2024.
To consolidate this recovery and ensure the sustainability of the CDC, the Cameroonian government has put in place a financial restructuring plan. On January 15, 2025, during the launch of the execution of the state budget in Buea, the Minister of Finance, Louis Paul Motazé, announced an agreement with two local banks – Société Générale and Banque Atlantique Cameroun – to clear the CDC’s debt. A total of 91.6 billion FCFA of debts were taken over and restructured. Among them, 35.4 billion FCFA of salary debts and 24.1 billion FCFA of social contributions were transferred to partner banks. A first tranche of 20 billion FCFA has already been paid to employees in 2024, and the remaining 15 billion will be paid in 2025. At the same time, a tax debt of 31.8 billion FCFA was converted into capital to strengthen the company’s financial situation
With this financial clean-up, the CDC is now looking to the future. The government is actively seeking new funding from its partners to boost the production of the CDC, but also of other strategic public companies such as Sodecoton, Pamol and Semry.
Paul Tasong, Minister Delegate to the Minister of Economy, confirmed this approach at the end of December 2024 before the Finance Committee of the National Assembly. The objective is to modernize infrastructure, increase production capacity and strengthen the competitiveness of agro-industrial companies.
For the CDC, these prospects are crucial in order to sustain the growth that has been regained and ensure a gradual return to pre-crisis levels. With a more stable social climate, reduced debt and investments in sight, the company could well become a key player in banana exports in Central Africa again.
